Marine fuel sales at the UAE's Fujairah bunker hub extended gains for a second straight month in August, logging a four-month high, Fujairah Oil Industry Zone data showed.
August sales totalled 650,502 cubic metres (about 644,000 tonnes), up 1.5 per cent from July, based on FOIZ data published by SP Global Commodity Insights.
Low-sulphur marine fuel sales, including low-sulphur fuel oils and marine gasoils, totalled 461,865 cubic metres in August, up 6.1 per cent from July. In contrast, high-sulphur marine fuel sales eased after hitting an 18-month high, sliding 8.2 per cent to 188,637 cubic metres in August.
High-sulphur sales retreated as the price difference between low-sulphur fuel and high-sulphur fuel narrowed into August, after widening sharply in July.
However, market sources said that premiums for low-sulphur marine fuel firmed and hit year-to-date highs in early September.
Supply in the UAE is expected to tighten slightly amid a halt in Sudanese oil imports, which typically go into topping refineries to produce low-sulphur marine fuel.
(Reporting by Jeslyn Lerh; Editing by Ros Russell)
